A Confession and Fear Conquered

The words "business plan" used to make me cringe. Shake in my boots. Want to hide in a corner. And once again, I had to buckle down, slap my hand, and remind myself that I grow the most [as an individual and professional] when I push myself outside of that thing called my [comfort zone].

I told myself that the only thing I should fear is NOT trying. So.....I collected up my courage and signed up for an intensive business boot camp class. I knew this class was NOT going to be about shutter speeds, f stops, and ISO. Instead, we would be discussing numbers, reports, plans, goals, market research, ahhhhh!

It's what most photographers lack....and it's what ALL photographers need. I would be fibbing if I told you I was not all nervous and sweaty palmed about this class. In fact, I almost didn't sign up. But I did....and it was BEYOND fabulous. There were laughs, tears, new friendships made, confessions revealed, and dreams shared. 

For the past three months, I have been cranking away at these pages. Pulling numbers, learning about reports, comparing averages.....and I can officially say, I HAVE A BUSINESS PLAN! THAT I UNDERSTAND!

There is SO much that goes into running a successful business. With 2013 marking the first year I am dedicating to FULL TIME photo, I figured a complete business plan was a great way to start!

One year ago, I would have DIED to read a post like this from another small business owner.....laying out the details. Reminding me that it CAN be done. It CAN be understood. And it SHOULD be utilized every week!

So here is the outline of my business plan. If ONE individual that fears those two little words like I once did "business plan" is inspired to take a next step,.....my thoughts were worth sharing.

Happy planning!

Kerri Photography

      life is beautiful.

Kerri Photography Business Plan Outline

Beginning documents:

Cover page
Mission statement
Business Purpose [what purpose will your business serve for the community]?
Executive Summary

Goals
Personal goals [these are IMPORTANT to start with before thinking about your professional goals]
Photography goals
Support network [what friends, family, connections do you have that can support and grow your business]
End of Year accomplishments
Supporting documents for upcoming goals

Financials
Accounting 101 [yep, I needed this. so I can understand all of those fancy words like cash flow, balance sheet, equity, and profit margin]
Personal budget
List of debts
Student loan details
Cost of running a business
Cost of living
Cash flow analysis [by year]
Profit and loss reports [by quarter]
Sales
Sales projections
Product sales summary [by year]
Options for selling
Proofing page example and email
Client session record
Wedding inquiry and booking record
Insurance details
Equipment and asset inventory
Sales tax reports [by quarter]

Pricing
Models and things to consider
Figuring product lines and prices
Print sizes and prices
Portrait order form
Discounts policy

Market Research
SWOT Analysis of self
Census.gov
Stats
Concluding findings
Wolframalpha.com
Stats
Costofwedding.com stats
Target client profile
Competition research

Marketing
Marketing plan/process notebook [52 weeks]
Example blog post
Website example
Facebook example
Past promotions
Future marketing ideas

Resources
Sign in and passwords to vendors
Phone scripts [client and wedding]
Client workflow checklists
Standard Inquiry responses
Business card
Packaging
What to wear documents
Contracts
Wedding documents
Wedding day timeline
Formals checklist
Print release example

Invoice example

Verification Documents
LLC documents [proud to have]
Certificate of organization
Operation agreement
Membership certificate
Trade name certification
Permits licenses and signage notes
LLC EIN
Sales Tax Permit